NEW YORK and TORONTO, Feb. 21 /PRNewswire-FirstCall/ -- Oppenheimer Holdings Inc. (OPY on the NYSE) is aware that the Financial Industry Regulatory Authority (FINRA) issued a press release today announcing the Company's settlement of market timing issues. The Company is pleased to put this matter, which resolves the last major regulatory issue resulting from a series of acquisitions made by the firm in 2001-2003, behind it. The Company filed a Form 8-K on December 27, 2007 reporting this settlement with FINRA. In that filing, the Company reminded investors that the Company had set aside sufficient amounts to fully reserve for this matter. Oppenheimer, through its principal subsidiaries, Oppenheimer & Co. Inc. (a U.S. broker-dealer) and Oppenheimer Asset Management Inc., offers a wide range of investment banking, securities, investment management and wealth management services from 86 offices in 21 states and through local broker-dealers in 3 foreign jurisdictions. Oppenheimer employs over 3,500 people, approximately 1,250 of whom are financial advisers. Oppenheimer offers trust and estate services through Oppenheimer Trust Company. Evanston Financial Corporation is engaged in mortgage brokerage and servicing. In addition, through its subsidiary, Freedom Investments, Inc. and the BUYandHOLD division of Freedom, Oppenheimer offers online discount brokerage and dollar-based investing services. This press release includes certain "forward-looking statements" relating to anticipated future performance. For a discussion of the factors that could cause future performance to be different than anticipated, reference is made to the Company's Annual Report on Form 10-K for the year ended December 31, 2006. DATASOURCE: Oppenheimer Holdings Inc. CONTACT: A.G. LOWENTHAL, (212) 668-8000; E.K. ROBERTS - (416) 322-1515

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